Don't miss

Replay


LATEST SHOWS

ENCORE!

Cannes 2017: Al Gore 'The modern climate movement was launched here'

Read more

MEDIAWATCH

Manchester, United

Read more

ENCORE!

TV series 'Top of the Lake: China Girl' screened at Cannes

Read more

FOCUS

A lifeline for women facing domestic violence in Pakistan

Read more

ACCESS ASIA

Afghanistan's new TV channel by and for women

Read more

EYE ON AFRICA

Former minister accused of role in murder of two UN investigators in DR Congo

Read more

IN THE PAPERS

'Murder in Manchester': Press reacts to Arena terror attack

Read more

ENCORE!

Cannes 2017: Naomi Campbell hosts 'Fashion For Relief'

Read more

MEDIAWATCH

Trump's visit to Israel in key images

Read more

S&P raises Argentina's credit rating

© www.anpfoto.nl/AFP/File | The S&P rating bump gives a boost to center-right President Mauricio Macri, seen in March 2017, who has launched sweeping -- often unpopular -- economic reforms aimed at reviving growth

BUENOS AIRES (AFP) - 

Standard & Poor's raised Argentina's credit rating one notch Tuesday, from B- to B, saying Latin America's third-largest economy was on the verge of exiting recession.

The rating bump gives a boost to center-right President Mauricio Macri, who has launched sweeping -- often unpopular -- economic reforms aimed at reviving growth.

"Argentina is making progress in resolving several macroeconomic imbalances in the country while gradually rebuilding the country's credibility," the rating agency said in a statement.

It predicted Argentina would return to economic growth of three percent this year, with inflation -- a tricky problem for Macri -- falling by half, to 20 percent.

Many economic analysts see signs of "green shoots" in Argentina, after it posted growth of 0.5 percent in the last quarter of 2016.

S&P predicted "broad continuity" over the next two years, but also warned of "uncertainties about the pace of implementation of the government's corrective economic plan given ongoing political challenges."

Macri, who took office in December 2015, faces a key test in midterm elections this October.

Some analysts say the upcoming vote has forced him to back off his austerity reforms.

© 2017 AFP